Market Update – July 29 – Inventories rise, US dollar lowers on final trading day of month


    Trading products with debt funds is risky

    USDIndex the tank descends again 105.75, from 106.80. The US is in a technical recession (2 consecutive quarters of contraction) after 2nd quarter GDP -0.9% & (Q1 -1.6%), and GDP inflation rose to 8.7% from 8.0%), but unemployment remains very low and job creation (Claims fell on 256 thousand from 261 thousand) and wage growth is strong. US stocks rallied another 1%+ in anticipation of slower rate hikes. AMZN +1.08% & ENJOY+0.36%, both beat After-hours earnings, stocks rose 3% and 12%respectively. meta -5.2% and QCOM -4.54%. Asian markets are mixed (Hang Sen -2.02%, Nikkei -0.03%). European FUTS is higher. Productivity continue to see-saw, today -1.94%, Oil under 97 dollars, gold is broken 1760 dollars and BTC moved to 24 thousand dollars.

    Biden and Si the meeting was bypassed Taiwan to speak Ukrainian forces plan counterattacks in the south, Russia shells Kyiv.

    • USDIndex weakens further to 105.45 now. EN outperforms again in the Asian session.
    • ActionsUS500 closed higher +48.8 points (+1.21%) (4072), US500FUTS on 4105 now. Bears are tightening, 10 days north of 20-day MA. 4175 the next key resistance
    • Productivity The 10-year yield declined 2.681%down again to 2.67% now.
    • oil – reached its peak US$99.80 yesterday to check US$96.00 before recovering 97.00 USD now.
    • gold – hacked and cracked key of 20 day MA (1745 dollars) and 1750 dollars. Trades on 1765 dollars now.
    • Bitcoin also rallied amid a weaker US dollar for trade 24.1 thousand dollars now.
    • Currency marketsEURUSD flocked to check 1.0250 on EZ news, USDJPY fell 1% lower 133.00 to 132.75. The cable broke 1.2200 and trades on 1.2225.

    Overnight stay – JPY In Tokyo, inflation is higher, retail sales, housing starts and consumer confidence are weaker, AUD PPI is built in, French GDP is better German Import prices according to.

    today – German Flash GDP and Unemployment, EZ Flash CPI and Flash 2nd quarter GDP, US Cher PCE, US PMI in Chicago, Canada GDP

    The largest FX Mover @ (06:30 GMT) USDJPY (-1.13%). A key technical level has been breached at 133.00 today and tests 132.50. MAs aligned lower, MACD histogram negative and falling, RSI 19.77, OS and bearish, H1 ATR 0.365, Daily ATR 1.230.

    Click here to access our economic calendar

    Stuart Cowell

    Chief market analyst

    Disclaimer: This material is provided as general marketing information for informational purposes only and does not constitute independent investment research. Nothing in this message contains or should be construed as containing investment advice or investment recommendations or a solicitation to buy or sell any financial instrument. All information presented is gathered from reputable sources and any information that contains an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in credit products is characterized by a certain degree of uncertainty and that any such investment involves a high level of risk for which users are fully responsible. We accept no responsibility for any loss arising from any investment made based on the information provided in this post. This message may not be reproduced or redistributed without our prior written permission.

    Source link

    Previous articleEUR/USD Weekly Forecast – Action Forex
    Next articleJust Sold: Mid-Century Ranch in Hayhurst